TMI Blog2020 (10) TMI 1157X X X X Extracts X X X X X X X X Extracts X X X X ..... for matters connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17th March 2020 and published in the Gazette of India on 17th March 2020. In terms of the said Act, the assessee has been given an option to put an end to the tax disputes, which may be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Hon'ble Supreme Court of India. The assessee is given liberty to restore this appeal in the event the ultimate decision to be taken on the declaration to be filed by the assessee under Section 4 of the said Act is not in favour of the assessee. If such a prayer is made, the Registry shall entertain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ness of the assessee is given, the benefit of deduction under Section 80IB of the Act on the assessee satisfying the conditions mentioned in Sub-Section(2) of the said Section 80IB of the Act, can the assessee be denied the benefit of the deduction on the ground that during the said 10 consequent years, it ceases to be a small scale industry? And ii. Whether the Appellate Tribunal is correct in law in approving the testing of the status of the eligible unit/undertaking as a small scale industrial undertaking in the assessment years under consideration even after satisfying such status in the initial assessment year comprised in the eligible block of 10 assessment years which condition was not required to be tested statutorily on year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... blished in the Gazette of India on 17th March 2020. 6. In terms of the said Act, the assessee has been given an option to put an end to the tax disputes, which may be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Hon'ble Supreme Court of India. Under Section 2(j) disputed tax has been defined. In terms of Section 3, where a declarant means a person, who files a declaration under Section 4 on or before the last date files a declaration to the designated authority in accordance with the provisions of Section 4 in respect of tax arrears, then, notwithstanding anything contained in the Income Tax Act or any other law for the time being in force, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration of these appeals and on such request made by the assessee by filing a Miscellaneous Petitions for Restoration, the Registry shall place such petition before the Division Bench for orders. 9. In the light of the above, We direct the appellant / assessee to file the Form No.I on or before 09.11.2020 and the competent authority shall process the application / declaration in accordance with the Act and pass appropriate orders as expeditiously as possible preferably within a period of six (6) weeks from the date on which the declaration is filed in the proper form. 10. With this direction, the Tax Case Appeals stand disposed of with the aforementioned liberty and Consequently, the Substantial Questions of Law are left open. No costs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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